Mogu rises on share repurchase plan

MOGU

27/08/2021 20:57

** U.S.-listed shares of Chinese e-commerce co  MOGU.N  up
~10.2% at $1.09 
    ** Co among the most heavily traded stocks on the NYSE
    ** MOGU announced a $10 mln share repurchase program
 urn:newsml:reuters.com:*:nBwbYSYRga
    ** Co expects to fund repurchase with existing cash balance 
    ** MOGU also reported Q1 2022 results  urn:newsml:reuters.com:*:nBw66vGcga
    ** Posted Q1 adj net loss of 24.3 million yuan ($3.76 mln),
compared with 14.4 mln yuan ($2.23 mln) a year earlier
    ** Q1 total revenue fell 30.6% to 92.0 mln yuan ($14.22 mln)
    ** Shares down ~49.5% YTD


($1 = 6.4711 Chinese yuan)

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))